Edgestream Partners L.P. Purchases Shares of 12,942 First American Financial Corporation $FAF

Edgestream Partners L.P. acquired a new position in First American Financial Corporation (NYSE:FAF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,942 shares of the insurance provider’s stock, valued at approximately $795,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FAF. Cetera Investment Advisers boosted its stake in shares of First American Financial by 137.8% during the first quarter. Cetera Investment Advisers now owns 21,091 shares of the insurance provider’s stock valued at $1,384,000 after purchasing an additional 12,222 shares during the period. Advantage Alpha Capital Partners LP increased its stake in shares of First American Financial by 14.2% in the first quarter. Advantage Alpha Capital Partners LP now owns 81,010 shares of the insurance provider’s stock worth $5,317,000 after buying an additional 10,044 shares during the period. AXQ Capital LP raised its holdings in First American Financial by 29.4% during the 2nd quarter. AXQ Capital LP now owns 10,880 shares of the insurance provider’s stock valued at $668,000 after buying an additional 2,470 shares during the last quarter. Carlson Capital L.P. bought a new stake in First American Financial during the 1st quarter valued at $630,000. Finally, PNC Financial Services Group Inc. boosted its position in First American Financial by 10.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,273 shares of the insurance provider’s stock valued at $280,000 after buying an additional 420 shares during the period. Institutional investors own 89.05% of the company’s stock.

Analysts Set New Price Targets

FAF has been the subject of several recent analyst reports. Barclays upped their price objective on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Truist Financial upped their price target on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Stephens assumed coverage on First American Financial in a research note on Friday, November 14th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.00.

First American Financial Stock Down 0.3%

FAF opened at $64.60 on Friday. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $69.53. The stock has a market cap of $6.58 billion, a PE ratio of 13.89 and a beta of 1.27. The business has a 50 day moving average of $62.83 and a 200-day moving average of $61.87.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 40.7% compared to the same quarter last year. Equities analysts anticipate that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 annualized dividend and a yield of 3.4%. First American Financial’s payout ratio is presently 47.31%.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.